• Yes, this rate is variable. We can increase or decrease the credit interest rate for any of the reasons set out in the General Terms and Conditions - Personal Banking. For more information, refer to Clause 16.2.
• We’ll give you 2 months’ notice of any reductions to the credit interest rate, allowing you to review your savings options.
• We may increase the credit interest rate immediately and advise you on your next statement.

This account is suitable for a child aged 10 years and under.

• A child between 7 and 10 years can open an account in their name.
  • In this instance the child will be the account holder.
  • The account can be opened in Branch.
• An adult can open an account in the name of the adult for the benefit of a child aged 10 and under.
  • In this instance the adult will be the account holder and funds are held in trust for the child.
  • The account can be opened in Branch. Or, if the adult is a parent or legal guardian and an existing Danske Bank customer, they can open the account online. (Find out more at danskebank.co.uk/juniorsavings).

For accounts opened or amended after 4 July 2021:

• The Junior Savings Account will automatically change to a Danske Discovery Savings Account at age 11. We will write to the relevant account holder (see above) before this happens with further information.
• The account will remain in the name of the adult for the benefit of a child until the account holder requests the account to be transferred into the child’s own name (where they are aged 7 or over) or the child turns age 18, whichever happens first.

For accounts opened prior to 4 July 2021, please refer to your branch.

Operating the account:

• The account holder can access the account at any time.
• You can open and maintain the account with as little as £1.
• There is no maximum amount of funds you can hold in the account.
• The account holder can manage the account in branch, by phone, by writing to us or by using eBanking or Mobile Banking (if the account holder is registered for these services).
• We'll send you a paper statement at least every 6 months unless you've asked to receive them electronically with eBanking. You can ask to change to electronic statements at any time using our Go Paperless form.

The Danske Discovery Savings Account currently pays 3.65% Gross/AER (variable) on all credit balances.

• Interest is paid ‘gross’. This means that we do not deduct tax from the interest we pay. Depending on your personal circumstances, you may have to pay tax on your interest.
• AER stands for ’Annual Equivalent Rate’ and illustrates what the interest rate would be if interest was paid and compounded (paid on the total balance including previous interest) once each year.
• This account is not suitable for day-to-day banking.
• Rate correct as at 01/09/2023.

The information provided in this summary box includes the key features of the account only and is not intended to be a substitute for reading the terms and conditions that apply to the account.

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